Amylyx Pharmaceuticals (NASDAQ:AMLX) Price Target Raised to $52.00 at Robert W. Baird

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price objective increased by analysts at Robert W. Baird from $28.00 to $52.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 48.11% from the stock’s previous close.

Several other equities analysts also recently issued reports on AMLX. Guggenheim boosted their price target on shares of Amylyx Pharmaceuticals from $30.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Mizuho set a $42.00 price objective on shares of Amylyx Pharmaceuticals in a research report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Amylyx Pharmaceuticals in a research note on Wednesday, August 5th. Citigroup upped their target price on shares of Amylyx Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen lowered shares of Amylyx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $34.38.

Amylyx Pharmaceuticals Stock Up 63.8%

Shares of NASDAQ:AMLX opened at $35.11 on Wednesday. Amylyx Pharmaceuticals has a fifty-two week low of $7.63 and a fifty-two week high of $35.39. The firm has a 50-day simple moving average of $18.88 and a 200 day simple moving average of $16.19. The company has a market cap of $3.91 billion, a PE ratio of -24.55 and a beta of -0.21.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued its earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). As a group, research analysts forecast that Amylyx Pharmaceuticals will post -1.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Gina Mazzariello sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $18.32, for a total value of $274,800.00. Following the completion of the sale, the insider owned 194,090 shares of the company’s stock, valued at $3,555,728.80. This represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Amylyx Pharmaceuticals by 17.1% in the first quarter. Dimensional Fund Advisors LP now owns 903,192 shares of the company’s stock worth $12,544,000 after acquiring an additional 131,944 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Amylyx Pharmaceuticals by 10.1% during the 4th quarter. Vanguard Group Inc. now owns 5,804,912 shares of the company’s stock valued at $70,123,000 after purchasing an additional 531,162 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Amylyx Pharmaceuticals by 15.5% in the 1st quarter. Bank of New York Mellon Corp now owns 251,104 shares of the company’s stock worth $3,490,000 after purchasing an additional 33,757 shares during the last quarter. Siren L.L.C. acquired a new position in shares of Amylyx Pharmaceuticals in the 1st quarter worth approximately $17,097,000. Finally, Stempoint Capital LP raised its holdings in shares of Amylyx Pharmaceuticals by 18.5% in the 1st quarter. Stempoint Capital LP now owns 669,685 shares of the company’s stock worth $9,309,000 after purchasing an additional 104,545 shares in the last quarter. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Key Amylyx Pharmaceuticals News

Here are the key news stories impacting Amylyx Pharmaceuticals this week:

• Positive Sentiment: Avexitide met both the primary and secondary endpoints in the pivotal LUCIDITY trial, reducing episodes of dangerously low blood sugar in patients who had undergone bariatric surgery. The result moves Amylyx closer to potential regulatory filing and commercialization. Reuters article
• Positive Sentiment: The late-stage trial success led to substantial investor interest, with coverage describing AMLX as reaching a fresh high and attracting expectations for significant additional upside. Yahoo Finance article
• Positive Sentiment: HC Wainwright raised its AMLX price target from $34 to $55 and maintained a “buy” rating, implying considerable upside based on avexitide’s improved commercial potential. Wolfe Research also upgraded the stock to “strong-buy.” StreetInsider article
• Neutral Sentiment: Trading in AMLX was temporarily halted for pending news before the LUCIDITY results were released, underscoring the material significance of the announcement but not changing the company’s fundamentals by itself.
• Negative Sentiment: Valuation and execution risks remain after the rapid rally. Mizuho raised its target to $30 and rated the stock “outperform,” a target below the referenced $35.11 price, while some commentary urged investors to sell following the surge. American Banking News article

About Amylyx Pharmaceuticals

At Amylyx, our mission is to usher in a new era of treating diseases with high unmet needs.